Line break chart type only allows candle style bars

[LarryS]

A chart showing a LineBreak type defaults to showing candle bars and will not allow switching to other bar styles. If I wish to use HiLo or OHLC bars they are greyed out and not available.

This is also true for HeikenAshi and Renko.

At first this seems fine, but now I am writing and indicator that would be more visible superimposed on something narrower than a candle. Also candles need more horizontal space than OHLC to see clearly .

Is there any reason to not allow other Styles of bars on these types?
I suggest this be changed.

[NinjaTrader_Ray]

A period type will only display available chart styles that will work for that period type. This is why the limitation is there.

[eDanny]

Candles and OLHC = same in every way except appearance right?

[NinjaTrader_Ray]

Originally Posted by eDanny

Candles and OLHC = same in every way except appearance right?

Correct, in orignal post, line break does not default to candle bars, it default to open/close bar which has up/down color, just no wicks.

[Light]

Guys, these are very ineresting charts. Thank you for making them part of NT7. NT7 continues to impress me.

However, it appears that the wicks are not part of the visible chart bars but ARE part of the bars as seen by NinjaScript. That is, NinjaScript sees the true bar Highs and Lows, even though only the Open and Close are visible on chart.

So if NinjaScript sees the wicks, why not let the trader see them too? Ray's comment below implies that an OHLC-based Chart Style is not appropriate for this Period Type. Why isn't it? Seeing the wicks would be tremendously helpful, helping the trader see stops and targets. And they could show without changing the bar functionality at all. Couldn't this be an option in the Data Series window? (Candlestick and OHLC as Chart Styles?)

Also, would NT please consider making the NinjaScript code for Period Types available to their users? It would allow the NT community to more easily create custom bar types similar to this one -- already a VERY powerful and unique feature of NinjaTrader.

Thanks again for NT7!

Light

[NinjaTrader_Brett]

Hello,

On what chart type is this occuring on where the low is not correct so that I may test this. Does this happen on all lows?

Also, Ill will forward your suggestion on the period type on up to development. Thanks.

[Light]

Thanks Brett, the Highs and Lows on LineBreak charts are correct as far as I know, there is simply no option to show them on chart. eDanny and I are asking for Candlestick and OHLC (at least) to be available Chart Styles for this Period Type (LineBreak). Seeing the "wicks" would be very helpful. They are already visible to NinjaScript -- just not to the trader. Attached is a screen shot showing the bar Highs and Lows, using a 1-period SMA for each.

Could you please ask the development team to include Candlestick and OHLC as Chart Styles for LineBreak charts? That would allow all price information to be visible for those wanting to see it.

Thank you again for your help!

Light

[NinjaTrader_Josh]

Thank you for the suggestion. I have added it to our feedback list to review after NT7 reaches a production state.

[Light]

Guys, I should have noticed this earlier -- bar highs and lows as seen by NinjaScript native methods, e.g. High[x], Low[x], are NOT correct for LineBreak bars. Here are two screen shots showing the difference between bar extremes seen by native NinjaScript methods and those seen with a custom script that plots them correctly.

The problem, I suspect, is that NT's methods see only the most recent underlying tick bar, and NOT the LineBreak bar. Hence on LineBreak bars that contain more than one tick bar, they typically give incorrect results.

The problem can be seen live (or in market replay) simply by paying close attention to the extremes of the current bar as it forms. It can be highlighted by plotting a 1-bar SMA of the High and a 1-bar SMA of the Low and watching them change during current-bar formation.

Could this problem please be addressed? It has serious consequences for indicators on LineBreak charts.

Thank you again for your help and for this new chart type,

Light


P.S. It might be argued that the visible bar Open and Close ARE the LineBreak bar High and Low. However, this would mean a huge loss of information, and I would urge NT NOT to take that approach. But even if that were NT's intent, native NinjaScript methods are also inconsistent with that rule.

[NinjaTrader_Brett]

Hello,

Looking into this now.

Thanks for your patience.

[Light]

Thanks Brett. I am sorry I didn't notice this problem after your question in my earlier post. A few other comments:

1) Volume has the same problem. LineBreak bar volume at times increases and decreases on the same bar, presumably as the underlying bars (e.g., tick) close and reopen.

2) Ultimately the question is what should be the bar highs, lows, and volume for this bar type? I would suggest that they be the high/low extremes and total volume during bar formation. That would be most consistent with other bar types and ensure no loss of information. This also points to the original theme of this thread -- the importance of candle wicks for LineBreak bars. If the bar high and low are the extremes during its formation, then wicks would be a natural option for display.

3) Finally, could NTs code for this bar type be placed in the NinjaScript file sharing section of the forum? Users could then develop it as they choose. That would be very helpful indeed.

Thanks again for your help!

Light

[NinjaTrader_Brett]

Hello,

Development is aware of this.

Line Break charts are a OC data series. Therefor only the Open and Close values are valid, if you need to use the low is the same as the close and the high is the same as the open in an down bar for example.

Therefor you will always calculate of the open prices and the close prices and not use the high/low data series since they are invalid in the current context.

Let me know if I can be of further assistance.